Lovable confirmed a new $400M Series C at a $13.3B valuation on August 12, alongside its own announcement.
The number that makes the round legible: Lovable told TechCrunch it hit $500M in annualized run-rate revenue in June. At a $13.3B mark, that's roughly a 27x multiple on run rate — rich by any historical software standard, ordinary by 2026 AI-coding standards.
Run-rate revenue in this category is famously fast to arrive and famously easy to churn out of; the interesting question is not whether Lovable can raise at $13.3B but whether the $500M annualizes into anything durable when the underlying model capability keeps getting cheaper and the incumbents keep shipping the same feature for free. The 82-comment HN thread is, predictably, mostly that argument.
Sources: TechCrunch, Lovable announcement, HN discussion